The United States faces a deepening crisis of economic disparity, driven by long-standing policy decisions that have disproportionately benefited the wealthiest individuals. Over several decades, systemic changes have tilted the economic landscape in favor of the affluent, leaving working- and middle-class households struggling to keep pace. n nA recent report by Oxfam, titled “UNEQUAL: The rise of a new American oligarchy and the change we need,” examines how entrenched political and economic structures have enabled extreme concentrations of wealth. It also proposes actionable reforms to build a more inclusive and balanced society. n nFrom 1989 to 2022, the financial gains at the top have been staggering. Households in the top 0.1 percent accumulated at least $39.5 million in additional wealth, while those in the bottom 20 percent saw less than $8,500 in growth. The top 1 percent gained at least 101 times more than the median household and nearly 987 times more than those at the lower end of the spectrum. In just one year, the ten richest billionaires in the U.S. added over half a trillion dollars to their fortunes. n nGender disparities remain pronounced. Male-headed households, on average, built up four times as much wealth as female-led ones between 1989 and 2022. By 2022, the typical wealth of male-headed families was 3.7 times greater. The gender pay gap also widened in both 2023 and 2024—the median annual income for full-time women workers stood at $57,520, falling $13,570 short of their male counterparts. n nRacial inequities further compound the issue. Historical injustices, including slavery and ongoing discrimination, continue to shape economic outcomes. Black and Hispanic households together hold only 5.8 percent of national wealth despite representing one-third of the population. Over the same 33-year period, the average white household’s wealth grew 7.2 times faster than that of Black households and 6.7 times faster than Hispanic ones. In 2022, white male-headed households held 16 times the wealth of homes led by Black or Latina women. n nCompared to other developed nations, the U.S. ranks poorly on key social indicators. Among ten peer countries, it has the highest rate of relative poverty, the second highest child poverty and infant mortality rates, and the second lowest life expectancy. Contributing factors include underinvestment in healthcare and childcare, as well as a low federal minimum wage. n nTo reverse these trends, four key strategies are recommended: First, rebalancing power by curbing corporate dominance and expanding democratic participation. Second, reforming the tax system so that ultra-high-net-worth individuals and profitable corporations pay their fair share, ending practices that allow wealth concealment. Third, replacing fragmented support systems with robust, universal public services in health, housing, and childcare. Fourth, strengthening labor rights—supporting unionization, raising pay floors, ensuring paid leave, and closing gaps in labor protections. n nPublic engagement is vital. Advocacy efforts are urging Congress to end tax policies that favor large corporations and the wealthiest citizens, calling for a future where economic opportunity is more evenly distributed. n— news from Oxfam
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Inequality in the US: Steps toward a more equal society
nThe U.S. is in the grips of an inequality emergency. Decades of deliberate, regressive policy choices have rigged the system in favor of an ultra-wealthy few while everyone else falls further behind. n nOxfam’s new report, “UNEQUAL: The rise of a new American oligarchy and the change we need,” breaks down how our economic and political systems was designed to benefit the ultra-rich and lays out a blueprint to create a more equal society. n nIt’s time to turn the tide. Take action today to support a bold new agenda that finally delivers for ordinary people. n nDecades of increasing inequality in the U.S. n nDo you ever wonder why the U.S. is more unequal than most other wealthy countries? Why families are struggling to get by and homelessness is at record levels, while wealth and income inequality have risen drastically? n nThe state of the current economy was created this way on purpose. It’s the result of political choices that have historically favored the wealthy and powerful over working families. From weakening the social safety net and tilting the tax code toward the wealthiest to making it harder to find safe, well-paying jobs, these policy reforms have deepened divides, driven concentrated wealth and power at the top, and caused hardship for too many. n nThese are deliberate choices. And now the Trump administration and the Republican majority in Congress are making things worse. n nU.S. wealth inequality over time n nNew Oxfam analysis reveals that the gains at the very top have been astronomical, while the working and middle classes have fallen further behind. n nBetween 1989 and 2022, wealth and income inequality in the U.S. have exploded to obscene levels. n nA U.S. household in the top 0.1 percent gained at least $39.5 million, while a household in the bottom 20 percent gained less than $8,500. n nU.S. households in the top 1 percent gained at least 101 times more wealth than the median household, and at least 987 times more wealth than households in the bottom 20 percent. n nIn the past year alone, the 10 richest U.S. billionaires gained over a half a trillion dollars. n nGender inequality in the U.S. n nInequality impacts men and women and gender-diverse individuals in different ways. In many ways, our society was built by and for the benefit of men—specifically white men. Women have been historically undervalued and underpaid and are more vulnerable to the impacts of inequality. n nBetween 1989 and 2022, the average male-headed household gained four times the wealth of the average female-headed household. n nIn 2022, the average wealth of male-headed households was 3.7 times that of female-headed households. n nIn 2023, the gender pay gap widened for the first time in 20 years. It widened again in 2024. The median annual income of full-time women workers is $57,520, which is $13,570 less than the median annual income of men. n nRacial inequality in the U.S. n nU.S. inequality is also shaped by historic and continued racial and ethic discrimination. Our economy was built on a foundation of slavery, and that legacy continues to influence racial inequality to this day. People of color experience poverty at higher rates than white households. n nThe impacts of inequality are disproportionately felt by women of color, who face both racial and gender discrimination. Women of color started behind and fared worse than other demographic groups in recent decades. n nBlack and Hispanic households combined own just 5.8 percent of all U.S. wealth, though they make up one-third of the U.S. population. n nBetween 1989 and 2022, the wealth of the average white household increased 7.2 times more than the average Black household, and 6.7 times more than average Hispanic household. n nAs of 2022, the average wealth of a white male-headed households was 16 times higher than that of households headed by Black or Latina women. n nHow does the U.S. compare to other countries? n nThe U.S. is more unequal than many other industrialized countries. Among 10 peer countries, the U.S. has the highest rate of relative poverty, the second highest rate of child poverty and infant mortality, and the second lowest life expectancy. The reasons for this include a lack of public investment in healthcare and child care and low minimum wages. n nHere are four ways to reduce inequality in the U.S.: n nRebalance power n nWorkers, community organizations, and everyday people are already leading the way—building power, demanding fair treatment, and creating solutions that meet real needs. Congress must back their efforts by breaking up concentrated corporate power, strengthening democracy, and ensuring working people have a real voice in shaping their lives. n nUnrig the tax code n nRight now, billionaires can pay a lower tax rate than teachers and nurses. That’s wrong. Congress must raise taxes on the ultra-wealthy and large, profitable corporations, crack down on tax dodging, and close loopholes that let the rich hide their wealth. A fair tax system can level the playing field and raise billions to invest in health care, housing, childcare, and other programs that fight poverty. n nReimagine the social safety net n nEveryone deserves security, dignity, and their basic needs met. It’s time to move beyond a patchwork system that leaves millions behind and instead invest in high-quality universal public services and programs that reduce inequality and ensure no one is left to struggle alone. n nSupport workers’ rights n nWhen working people thrive, so does our economy. Congress must strengthen workers’ rights to form unions and collectively bargain, raise the minimum wage, eliminate exclusions from federal labor protections, guarantee access to paid leave, and support worker ownership n nWhat can you do to help? n nOne way you can take action is to join the movement for an equal future. Join us as we call on Congress to end Trump tax giveaway to mega-corporations and billionaires.